Remora’s business model is built on the same principles as those of a ship-owner, focusing on building, owning, leasing and operating generic HiLoad vessels. This model allows Remora to provide its customers with a wide range of commercial opportunities.
The HiLoad systems offer significant cost and operational advantages compared to conventional technology. Remora offers the HiLoad systems on a time charter (TC) or bareboat (BB) charter basis for contract durations adapted to the requirements of the customer, which makes the HiLoad financially attractive for different kinds of oil fields regardless of their lifespan. Under a time charter structure, the capital expenditure for the operator is minimal, and residual value risk is taken by Remora ASA. Purchasing a HiLoad unit is also a viable option, if the client’s commercial framework suggests it.
Due to its flexible design, a HiLoad unit is not field or tanker specific. This enables Remora to carry residual value on each asset, which allows the company to offer competitive lease rates. Further to this, implementing the HiLoad technology requires no modifications of existing infrastructure.
Remora sees a large and growing market potential for the HiLoad concept. Various potential projects have been identified worldwide, and the HiLoad concept is now under consideration for several existing field developments as well as future projects.
The HiLoad concept offers financially attractive solutions compared to other offloading systems, especially the increasingly expensive tug boat and buoy setups. Its high tolerance in harsh environments also gives the HiLoad solutions an advantage that will boost export regularity on many applications around the world.
Remora’s aim is to become a market leader in areas where the HiLoad has a competitive advantage.
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